“We see the fleet management space as a tremendous opportunity and we will continue to work with our ecosystem to serve this growing market and are committed to innovating in the machine-to-machine space,” said David Small, senior vice president of Verizon Enterprise Solutions, in a statement.

Networkfleet started in 1999 as Networkcar, trying to sell vehicle monitoring through auto dealerships. That effort largely failed. In 2002, it was sold to automotive software firm Reynolds & Reynolds. The new owners shifted focus to the light fleet market. Hughes Telematics acquired the company in 2006 for about $18 million. Verizon got the company when it purchased Hughes.